Equity Indices Summary for Jan 14, 2020
Major World Indices Technical Analysis Market Overview Report for Jan 14, 2020 | by Techniquant Editorial Team
With four out of the seven Major World Indices closing higher today, the ones that stand out on the positive side are NKY gaining 0.73% and DJIA closing 0.11% higher. On the flipside the worst performers have been NDX closing -0.41% lower and HSI losing -0.24%.
One of today's most interesting market conditions in the Major World Indices showed up in SPX: Among the three market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Spinning Top" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for S&P 500. Out of 208 times, SPX closed higher 57.21% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 64.90% with an average market move of 0.44%. Read more